Was an "additional" in yesterday's release as well.But that...

Was an "additional" in yesterday's release as well.

But that seemed to me to be 10kt on top of the 2kt. Nothing that I have ever read from AGY up to now has suggested 10 + 10. They are conservative in terms of 2kt now and then 10kt after that.

A couple of years ago they were talking pilot then direct to 10kt. But, the state of the finance/investment interest in lithium projects like that back then was that there wasn't much appetite, unless you wanted to give control over it away. These guys had a run in with the Chinese early on, along those lines, and I think that shaped the way they saw their evolution. Now, you can see from the announcements, AGY is in the driving seat and they won't commit until the terms are right and the terms just keep getting better and better. Very different to their experience a few years ago.

There are just too many options that will be open to the AGY team when 2kt production is up and running. Funding the 10kt expansion really will just be the start, as I see it. They have the chemistry sorted and that is the difference. With that, they can go In many directions once the cash flows and/or the offtake relationahips really kick in.